That’s a ten-fold increase over the $80 million majority owner John Moores paid for the team in 1994.

And with the colossal television contracts being negotiated these days for local broadcast rights, the value of teams can only go up, experts say. The sales price for the Padres, for example, includes $200 million in upfront money the team received as an advance payment from Fox Sports San Diego as part of a new 20-year television agreement. The sale of the team still requires approval by other Major League Baseball owners, who could take action as soon as Aug. 16 when they meet in Denver

Owning a team, while a vanity acquisition that shines a bright spotlight on the owners and their other financial interests, is still, at bottom, a business that can pay huge dividends for the patient investor. It’s also a limited asset — there are just 30 teams in the Major Leagues.

“There can be a great source of pleasure from owning a team, whether it’s the ego gratification, the buzz you get, the owner’s box where you can invite your business associates and friends,” said Andrew Zimbalist, an economics professor at Smith College and author of “Baseball and Billions.”

“But when you have to spend $600 million, a billion dollars to buy a team, there are not that many people in the world who can spend that and be indifferent to the financial ramifications. In the old days, when you bought a team for $20 million, yeah, it was a little toy. Today, there are few who can say this is a toy.”

There are a number of economic complexities involved in owning a baseball team, not to mention circumstances on and off the field that are often beyond the control of the owner and the franchise. Here’s a primer on the financial ins and outs of owning a team, drawn from interviews with several experts.

Q: Is owning a team a good investment?

A: Most experts agree that few teams fail to appreciate over time. As an asset that is fairly certain to grow in value, it’s a winner, but there’s also the reality that many franchises, especially those in smaller and mid-size markets, fail to turn a profit year in and year out. With costly player salaries and the year-to-year uncertainty surrounding team and player performance, consistent returns can be difficult. “There’s not a lot of money to be made (annually) in a market like San Diego,” says former Padres President Dick Freeman. “But there are teams that make significant amounts of money in particular years, like after the World Series or a lucrative TV deal.” Owners, however, are generally willing to sustain losses for a few years, recognizing that they’ll eventually be able to cash out with a sizable return on their investment.